90% of UK’s wealthiest families face active wealth conflicts, new research reveals
90% of UK’s wealthiest families face active wealth conflicts, new research reveals
- 90% of ultra wealthy families experience wealth disagreements
- Only 30% have implemented succession plans
- 53% of heirs report clashing over investment decisions with their UHNW parents vs 45% of UNHWIs themselves
Nine out of ten ultra-high-net-worth (UHNW) families in the UK are experiencing active disagreements over wealth, yet only 30% have implemented succession plans to manage these inevitable conflicts, according to major new research from accountancy and business advisory firm BDO.
The findings, based on surveys of 200 UHNWs (defined as individuals with £20 million in investible assets or £50 million in total assets, or the spouse or child of such individuals) and 100 wealth advisers, reveal that conflict over money in wealthy families is now the norm, not the exception – with just 10% of families reporting no disagreements at all.
However, the research suggests the real danger lies not in conflict itself, but in how tensions are addressed. While 90% of families experience disagreements over wealth, crucial conversations about succession, governance and long-term planning are frequently avoided to minimise friction, storing up potentially larger problems for the future.
The findings are laid out in detail in BDO’s new report, ‘WealthAnalysis: A psychosocial study of trust in the lives of the wealthy.’
Generational divide
The research exposes a number of areas of tension and misalignment within wealthy families:
- 53% of heirs report disagreements over how wealth is invested, compared to 45% of current wealth holders
- 44% of heirs cite spending disagreements, versus 34% of their parents
- 44% of ultra wealthy respondents report conflicts over family business roles and responsibilities
- 35% cite disagreements about family members being excluded from decision-making
A lack of clear communication emerged as a critical factor, with 28% of families identifying it as a primary reason they disagree over wealth. Concerningly, UHNWs put ongoing family communication last in their list of factors important for intergenerational wealth transfer, indicating that when important decisions are taken, the next generation may not be in the room.
The succession gap
The research also reveals an implementation gap in transition planning, with only 30% of the ultra wealthy having a fully developed and implemented succession plan. What’s more, 34% expect their wealth transition to occur in a decade or more, suggesting planning is being deferred.
Wealthy families are often reactive rather than strategic when it comes to implementing succession planning, with business sales and tax changes (both cited by 52%) serving as the primary triggers, alongside divorce and relocation.
Richard Montague, a private wealth partner at BDO, said: "A succession plan only exists when it's actively communicated, tested and followed through.
“Many wealth holders think they have prepared for the worst, but this research highlights that, in an effort to avoid difficult conversations and protect relationships today, many are missing key steps and unintentionally creating further sources of tension and confusion in the future."
Money as a love language
According to family governance specialists interviewed for the research, conflicts in wealthy families are rarely about the money itself – they're about what it represents.
Dr Sam Cleminson, founder of Integrative Counsel and contributor to the report, stated: "For a lot of ultra wealthy families, especially where someone has devoted their life to creating wealth and security for their loved ones, money can become the language of love and a symbol of affection. And if someone in the family is going to get more money than others, that can be perceived as them being more loved by their parents - even if that is not at all the intention."
The advice from the experts is clear – when it comes to implementing governance structures, now is always better than tomorrow. Families can learn how to have hard conversations before the stakes are too high.
Richard Montague concludes: “These are emotionally fraught discussions, but there is so much that families and their advisers can do to manage common flashpoints and ease wealth transition when the time inevitably comes. The best results come from developing strong understandings between family members, planning proactively together, and ensuring these crucial decisions are not made as a reaction to crises or short-term triggers."
‘WealthAnalysis: A psychosocial study of trust in the lives of the wealthy’ is available to download now.
ENDS
Note to editors
BDO surveyed 200 UHNWs between 2nd and 25th September 2025, defined as individuals with £20 million in investible assets or £50 million in total assets, or the spouse or child of such individuals.
All had a connection to the UK through residence or family. BDO also surveyed 100 advisers, equally divided between law firms, private banks, family offices, fiduciaries and private client tax teams at accounting firms.
BDO UK operates in 17 offices across the UK, employing 8,000 people. It has UK revenues of £1bn.
It provides Audit, Tax, Deals, and Consulting, Risk & Outsourcing services predominantly to the entrepreneurial, ambitious and growing mid-sized businesses that are driving growth in the UK economy. BDO calls this segment of the market the UK’s economic engine.
BDO LLP is the UK member firm of the BDO international network.
BDO’s global network
The BDO global network provides business advisory services in 169 countries and territories, with 95,000 people working out of 870 offices worldwide. It has revenues of US$11bn.
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